Likes hanging out in courtrooms way better than with his halfway house roommates.
Convicted insider-trader Doug Whitman got some good news last month, when he got to move from prison to something slightly less jail-like, in the form of a halfway house. Then he got some less good news, when Judge Jed Rakoff said he’d have to actually live in that halfway house until May, because “I only have five months left on my sentence and I’m already basically half-free so you might as well just let me go move to my new non-halfway house” is apparently no more a compelling legal argument than his earlier “insider-trading isn’t illegal anymore” gambit. But Doug Whitman is nothing if not persistent. Still appealing his unjust conviction, he’s now appealing Rakoff’s refusal to let him pursue that appeal on the outside. Worst-case scenario? It doesn’t work. Best case scenario? It ate up some of his remaining do-nothing time, and maybe he gets out a few hours early in the wildly unlikely scenario that the Second Circuit makes a decision on this one before Memorial Day.
A former hedge fund manager has asked the Second Circuit to release him from a halfway house while he appeals his insider trading conviction, saying the charges were likely to be tossed under the court's landmark Newman decision.
Attorneys for founder of Whitman Capital LLC Doug Whitman made the request in a Jan. 7 court filing, about a week after a New York federal judge denied a similar bail motion.